Finances

Section 1. The finances of the BBCA are based on a fiscal and administrative year of July 1 though June 30. The Board of Directors of the BBCA shall submit a yearly budget to Anne Arundel County that complies with the Special Benefits District purpose. The Board shall circulate the proposed budget to the membership for comment and vote before the budget is submitted to the County. Once approved, the Board may not undertake any single non-budgeted expenditure greater than $200 without a specific vote of authorization by the membership.

Sections 2. The BBCA is a Special Tax Benefit District in Anne Arundel County. The annual assessment is determined by the yearly budget established by the Board of Directors and presented to the general membership of the BBCA for review. The yearly assessment is limited to a $2.50 yearly increase above the previous year assessment. In order to finance extraordinary projects, such as capital improvements to the marina, beach, and boat ramp, the general membership may approve a special assessment for a limited time period not to exceed seven (7) years.

Section 3. The slip fees collected are separately accounted for by the Treasurer. The Harbor Committee will determine a yearly amount of those fees for the purpose of the Dock Fund account. The yearly maintenance costs for the Harbor Committee shall come from that fund.